A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Small Business Administration relating to "Citizenship and Residency Requirements and Recission of Procedural Notice 5000-872050" and "Revised Applicant Ownership, Citizenship, and Residency Requirements for 7(a) and 504 Loans".
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Latest action
- Jul 23, 2026
What it does
This joint resolution seeks to overturn two Small Business Administration rules issued in February 2026 that revised citizenship, residency, and ownership requirements for applicants seeking 7(a) and 504 loans. If enacted, the resolution would nullify these rules, meaning they would have no legal force or effect. The measure affects small business owners and loan applicants who rely on SBA loan programs, particularly those impacted by the updated eligibility criteria. It was introduced in the Senate on July 23, 2026, and referred to the Committee on Small Business and Entrepreneurship.
AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
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Where it goes next
While a bill can still move, the questions are about people and money.